Logistics News | Booming E-Commerce Market in Vietnam!

Author Name: Tiffany Lee – Marketing Analyst at FreightAmigo｜26/7/2022

During the pandemic, governments around the world introduced restrictions on their people to keep social distancing. People began to use e-commerce platforms for online shopping. Pandemic and quick expansion of e-commerce markets brings global sales opportunities for Vietnam.

Amazon released the “Local Sellers, Global Consumers: Capturing Vietnam’s e-commerce export opportunity” report, which has interviewed over 300 micro, small and medium enterprises (MSMEs) in Vietnam. The report claimed that Vietnam’s annual value of B2C e-commerce exports is expected to grow more than 20% and reaching US$11.1 billion in 2026, from US$3.3 billion in 2021.

The report also noted that if we classify e-commerce as an export category, it could be the fifth largest export category in Vietnam within five years. There is at least a 64% value of export could be earned by MSMEs. Over 80% of those surveyed MSMEs admitted that they lack knowledge of international customs regulations and global competitiveness. Also, over 88% believe that e-commerce has a significant impact on local export volume.

Currently, international customers can purchase goods from Vietnam with e-commerce platforms, bringing huge cross-border business opportunities for local enterprises. Major export commodities include agricultural products, handicrafts, furniture, medical equipment etc. Vietnam is one of the fastest-growing e-commerce markets compared to other countries in Southeast Asia. Right now, Vietnam is actively expanding into Southeast Asia, China, the European Union, South Korea, Japan, and the US markets.

===

FreightAmigo’s latest International Parcel Shipping solution, AmiGo Post, provides one-stop access to freight booking, customs clearance, cargo insurance and trade finance. It eliminates the hassle of arranging logistics and allowing you to focus on business development!  Let’s Make Trade Easier!